Accuma up on fresh bid hopes

SHARES in Manchester-based Accuma Group leapt by almost 30 per cent after the AIM-listed consumer debt adviser said it had received a 'very preliminary' fresh takeover approach. The shares gained 28.6 per cent to 27p following a stock market announcement. It came just two weeks after the company, which is based in the city centre, said it had rejected several approaches and would continue as an independent business.

SHARES in Manchester-based Accuma Group leapt by almost 30 per cent after the AIM-listed consumer debt adviser said it had received a 'very preliminary' fresh takeover approach. The shares gained 28.6 per cent to 27p following a stock market announcement.

It came just two weeks after the company, which is based in the city centre, said it had rejected several approaches and would continue as an independent business. Accuma said it had called off talks with potential suitors after six weeks of negotiations because none of the indicative offers was high enough.

In a statement yesterday, Accuma said of the latest move: "It should be emphasised that discussions are at a very early stage and there is no certainty that they will lead to an offer."

Accuma, which is led by chief executive Charles Howson, has suffered a torrid year in common with others in the sector but said earlier this month it expects to benefit from the tough economic climate and has reduced its exposure to a backlash against individual voluntary arrangements by broadening its services.